Earnings Per OP Unit of MAALP (Tables)

6 Months Ended

Jun. 30, 2025

Earnings Per Share [Abstract]

Schedule of Diluted Earnings per Common Unit

For the three and six months ended June 30, 2025, MAALP’s diluted earnings per common unit was computed using the treasury stock method, and for the three and six months ended June 30, 2024, MAALP’s diluted earnings per common unit was computed using the two-class method, as presented below (dollars and units in thousands, except per unit amounts):

	Three months ended June 30,						Six months ended June 30,
	2025			2024			2025			2024
Calculation of Earnings per common unit - basic
Net income	$	110,875		$	104,662		$	297,281		$	252,272
Unvested restricted units (allocation of earnings)		(59	)		(47	)		(156	)		(111	)
Distributions to MAALP Series I preferred unitholders		(922	)		(922	)		(1,844	)		(1,844	)
Net income available for MAALP common unitholders, adjusted	$	109,894		$	103,693		$	295,281		$	250,317
Weighted average common units - basic		119,950			119,888			119,932			119,848
Earnings per common unit - basic	$	0.92		$	0.86		$	2.46		$	2.09
Calculation of Earnings per common unit - diluted
Net income	$	110,875		$	104,662		$	297,281		$	252,272
Unvested restricted units (allocation of earnings)		—			(47	)		—			(111	)
Distributions to MAALP Series I preferred unitholders		(922	)		(922	)		(1,844	)		(1,844	)
Net income available for MAALP common unitholders, adjusted	$	109,953		$	103,693		$	295,437		$	250,317
Weighted average common units - basic		119,950			119,888			119,932			119,848
Effect of dilutive securities		187			—			241			—
Weighted average common units - diluted		120,137			119,888			120,173			119,848
Earnings per common unit - diluted	$	0.92		$	0.86		$	2.46		$	2.09